SM Prime Holdings Inc. (SM Prime), through SM Leisure Resort Residences (SM LRR), sees resilience in the market for its upscale vacation homes in its two master-planned leisure estates, Tagaytay Highlands and Hamilo Coast.

In a media briefing, SM Prime Vice President and SM LRR Head of Operations Patrick Joseph A. Villano said, “The market remains to be resilient for leisure. Take-up is still good and cancellations are limited. We’re fortunate that the buyers tend to take a long-term view when it comes to leisure property and investments.”

“Most of the buyers really use the products that we have as leisure homes or vacation homes. Some for retirement and some for weekend use with the family, not really as rental investments. The demand is really for actual use and long-term ownership and also intergenerational transfer of property,” he noted.

SM LRR has established brands that are running in the market, and Villano pointed out that “Highlands still maintains its premier position as a mountain resort community while we are positioning Hamilo Coast as a premier beachside or seaside leisure destination.”

While the market remains resilient, he said the company is being deliberate in the timing of the launch of its projects. It is now building the second residential tower of the Highlands Residences condominium project.

This comes after SM LRR’s Highlands Prime Inc. completed Horizon Terraces, the final phase of the Horizon development within the Tagaytay Highlands leisure estate.

The completion marks another milestone following the success of the first phase of The Horizon, which paved the way for Horizon Terraces to meet the stable demand for residences that provide immediate lifestyle value while serving as potential retirement homes and long-term assets for the next generation.

“All buildings at Horizon Terraces are now complete and ready for move-in. From relaxing dips in the pool to taking quiet walks at the Central Garden, residents can start enjoying a fully realized mountain community they will want to return to every day,” said Villano.

Set on a 3.2-hectare (ha) enclave 240 meters above sea level, Horizon Terraces offers expansive views of Tagaytay Midlands Golf Course, Taal Lake and Mt. Makiling. These panoramic vistas inspired the name of the community, which is already nearly 90-percent sold.

Designed to create a greater sense of openness and foster a deeper connection with nature, Horizon Terraces is a low-density community with more than 70 percent of the development dedicated to landscaped gardens and open spaces.

At its center is a one-ha garden featuring resort-style swimming pools, a children’s playground, pocket gardens and dedicated areas for recreation, fitness, and outdoor living.

The enclave offers a range of residences suited to different lifestyles. The Garden Villas comprise three-story townhomes ranging from 139 to 172 square meters (sqm) across the Scottsdale, Glendale, and Sunnyvale clusters. The Garden Suites offer one- and two-bedroom units ranging from 35 to 103 sqm in the low-rise St. Andrews, Glenview, Westchase, and Redstone buildings.

“The range of unit configurations is meant to give buyers the flexibility to choose what works for them, whether for weekend stays, longer family visits or more permanent mountain living in the future,” Villano said.